Minister of Commerce of India Anand Sharma to visit Finland

Press release 91/2010
23 March 2010

The Minister of Commerce and Industry of India Anand Sharma will visit Finland on 25–26 March on invitation of Minister for Foreign Trade and Development Paavo Väyrynen. The Ministers will discuss topical issues in international economy and enhancing of the Finnish-Indian trade relations.

During the visit Finland and India will sign a new agreement on economic cooperation. The agreement includes provisions on changing information about economic and trade developments, and on legislation and regulations governing economic cooperation. Another objective of the agreement is to facilitate expert and business visits and to promote shared business opportunities in third countries.

Minister Sharma will also meet Prime Minister Matti Vanhanen and Minister of Economic Affairs Mauri Pekkarinen and visit the Confederation of Finnish Industries. Sharma will travel with a business delegation of 12 people.

The trade between Finland and India has shown significant growth since the year 2000. India is the fourth largest trade partner of Finland in Asia after China, Japan and South Korea. In 2009, the value of exports was €450 million and the value of imports, €230 million. The impact of global recession was evident in the volume of trade in 2009. The value of exports fell by 15 percent, yet the value of imports increased by 5 percent.

Finland is increasingly interested in India. The strong growth of India's economy has made the country an attractive trade partner and an interesting investment target. There are relevant business opportunities for Finnish companies in telecommunications, environmental technology, health care, infrastructure, construction and forest industry, and in energy industry including civilian nuclear energy cooperation.

Further information: Advisor to the Minister Päivi Nevala, tel. +358 9 160 56171 or +358 40 753 4375, and Counsellor Sanna Halinen, tel. +358 40 563 8691